The economy gets a boost through the service sector
Recession or no recession, the beauty business seems to be booming all over. There are beauty parlors coming up even in villages. People are spending on pure drinking water like never before.There is a range of services that are becoming necessities. If one has AC in his or her house ( a necessity these days), the AC needs a service mechanic, who does not charge anything less than Rs.500 for a single service, even in small towns. The electrician and the plumber are two professionals who need to visit our homes, more than ever before. Professional gardeners are difficult to get as well.
The service sector keeps growing by leaps and bounds. There is not a single day when one hears about a new service coming up. Even small tea shops are now being branded. Since this particular service is always considered "essential" and not "desirable", there will be a big boom in such services at all times. Rs.12 per tea with s slightly better quality is a big hit. The Rs.10 tea guy is found napping.
Well, since the cash flow is always good, the trickle-down theory works. The guys keep on building the small-scale and unorganized sector. For example, Coca-cola does not sell. But local brands make enough money.
The service sector is likely to boost the economy at all times.
